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Article Abstract

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The student loan crisis has become a buzz topic that presidential candidates frequently discuss in debates and town halls. Today, accumulated student loan debt equals $1.6 trillion, exceeding total accumulated car loans and credit card debt. What makes this a crisis is the fact that approximately 22 percent of student loan borrowers default on their loans; by 2023, 40 percent of borrowers may default on their student loans. Default has a negative impact on borrowers’ credit scores and ability to live the American dream. Black Americans suffer the most when it comes to loan defaults, for reasons such as lack of familial financial capital, targeted recruitment by for-profit colleges, and lack of support after graduating or withdrawing from school. This article discusses student loans, their heightened impact on black Americans, and recommendations for institutions and the federal government.

Author(s)

portis-t--smTyler Portis is a student enrolled in the M.Ed Higher Education and Student Affairs Administration program at the University of Vermont. He graduated with his B.S. in Business Management from the University of Illinois at Chicago. Portis held an
internship with Chicago Public Schools where he worked with efforts to increase partnerships with colleges and universities in Illinois. Portis has a research interest in college access.

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